secwatch.observer — SEC 8-K summary
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Issuer:     Innovex International, Inc. (INVX)
CIK:        0001042893
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0000950170-23-035928
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dril-Quip acquires Great North Wellhead for ~$80M CAD; Q2 revenue $89.6M, net income $3.5M
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- Acquired Great North Wellhead for $105M CAD (~$80M USD) cash, plus up to $30M CAD earnout based on revenue growth targets.
- Q2 revenue $89.6M (-5% YoY); net income $3.5M ($0.10 EPS) vs net loss $5.6M a year ago.
- Net bookings $72.7M (+47% YoY); book-to-bill ratio 1.2x.
- Adjusted EBITDA $8.8M (flat sequentially); gross margin 26.7%.
- FY2023 revenue target raised to ~20% growth over 2022; H2 revenue guided $240-250M; EBITDA margins 14-16%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042893/000095017023035928/0000950170-23-035928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042893/000095017023035928/drq-20230731.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-035928

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer